Maxis makes New Year's first investment in Mindsite, a graduate of the Workup Entrepreneurship Program
Maxis Innovative Venture Capital Investment Fund, in which İşbank is an investor, invested TL 1.9 million in Mindsite, a graduate of the sixth batch of the Workup Entrepreneurship Program.
Sponsored by İşbank, Workup Entrepreneurship Program (Workup) has been extending uninterrupted support to technology-based initiatives since 2017. Mindsite is a graduate of the sixth batch of Workup that was completed in July. During the investment round led by Maxis Innovative Venture Capital Investment Fund (Maxis) with TL 1.9 million, Mindsite attracted a total investment of TL 2.8 million. Angel Effect, Utku Öz, Emre Açıkel and Workup's lead mentor Ömer Erkmen were other participants in the investment round.
Mindsite became the fifth venture Maxis invested in following Kolay İK, Mutlubiev, PCI Checklist and Denebunu, and the second venture to receive investment from Maxis after Workup graduation.
Mindsite, a SaaS platform which screens the prices and images of the products on the e-commerce sites of brands to collect them under a single roof, provides users with a huge bunch of data such as stock availability, price, promotions, product specifications and brand visibility, thus increasing the revenues from e-commerce channels.
Founded by İsmail Arapzade, Ali Göksu Özkan, Ali Alperen Durak, Hakan Utku Özdemir and Cem Öyke, the venture completed its product in 2020 and closed its first sales transaction after joining Workup. Consequently, the successful venture rapidly increased the number of its customers in the FMCG vertical, and will continue to work to acquire customers in other verticals and open up to global markets after the investment.
Selami Düz, General Manager at Maxis, stated that the Innovative Venture Capital Investment Fund closed 2020 with the Denebunu investment and welcomed 2021 with the Mindsite investment. Düz noted that Mindsite's innovative products offered for the e-commerce industry, which grew rapidly in the world and our country alike after the start of the Covid-19 pandemic, presented a key growth potential in combination with the execution strength of the Mindsite team, which was the reason why they invested in Mindsite.